Re:U.S. Goods Trade Deficit Declines to Smallest in Three Years
by owenversteeg on Wednesday January 01, 2020 @01:15AM
(#21926907)
I get the idea the British would absolutely love it if the pound became the global reserve currency. Especially since a lot of people would really like it if it appreciated in value again after its serious Brexit drop.
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Re:U.S. Goods Trade Deficit Declines to Smallest in Three Years
by mooreds on Wednesday January 01, 2020 @08:54AM
(#21928006)
This article talks about some of the costs of becoming a reserve currency:
"...I do not think that the role of the dollar provides for the US any “exorbitant privilege”, contrary to what many suppose. Rather, I have argued, it creates an exorbitant burden for the US economy, one that forces the US to choose between higher debt and higher unemployment whenever a country takes steps to force up its savings rate or, which is pretty much the same thing, to force up its current account surplus." https://carnegieendowment.org/2012/11/17/is-there-asian-rmb-...